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VRC: Resolution of the Board of Directors
Vung Tau Real Estate and Construction JSC (HOSE: VRC) announced the resolution of the Board of Directors dated August 25, 2011:
Article 1:
The Board of Directors approved the examined financial statements of the first six months of 2011:
• Total revenue (Include financial income and other income): VND46.6 billion, or 16.35% of total revenue target (VND285 billion);
• Profit before tax of VND21 billion, 19.09% of Profit before tax target (VND110 billion)
• Profit after tax: VND15.4 billion, or 18.55% of Profit after tax target (VND83 billion)
Article 2:
The Board of Directors approved to adjust the 2011 business plan with main targets as follows:
• Total production (Construction, real estate, trading): VND347.66 billion
• Total revenue: VND153 billion
• Total profit before tax: VND45 billion
• Total profit after tax: VND33.75 billion
• Dividend: 15%
Article 3:
The Board of Directors approved that the Director General would hold concurrently the post of legal representative of Vung Tau Real Estate and Construction JSC
Article 4:
This resolution took effect as from August 25, 2011.
HOSE
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